A lack of buyer support and little competition from feedlots influenced rates in a larger yarding of 3540 at Wagga. Most categories took a hit of 10-40c depending on condition and weight.
The market struggled to find a base, with cheaper prices trends over most categories. Looking at the bigger picture there were signs at the market that domestic processors and feedlots are not prepared to bid to anywhere near past levels.
This was evident in the feeder steer market, where rates slumped with fewer buyers operating. Demand was weak from feedlots and prices fell up to 27c/kg. A total of 339 steers weighing 330-400kg were purchased by various feedlots selling to a top of 322c to average $1138c/kg. It was more of the same for lighter weight heifers to feed-on. Fewer buyers caused prices to dip 20c, before recovering after a feedlot commenced buying mid-way through the sale. The better quality lines sold 8c cheaper selling from 240-314c/kg.
The trade cattle sale lacked intensity of the previous week, with rates wound back 10-15c/kg. Trade heifers 400-500kg sold from 270-328c to average 305c/kg. There were limited steers 400-500kg purchased by domestic processors. The pens of prime steers which did sell to the trade made from 300-340c/kg.
Prices were stronger in a bigger yarding of export cattle with bullock prices lifting 9c to average 324/kg. Heavy steers 500-600kg found buying support from a major feedlot with prices firm to a few cents easier making from 303-345c/kg.
On a positive note, there were some strong sales for light weight well-bred steers but, generally prices were pulled back 44c/kg. Light weight steers ranged from 210-338c/kg.
In a line-up of just over 800 cows all southern processor operated. Most grades of cows were unchanged to 5c dearer. Well finished cows sold from 252-282c/kg. Heavy high yielding beef cows averaged 266c/kg. Leaner grades made from 200-256c/kg.
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